Centrica inks disposal of some non-core energy solutions businesses
Centrica PLC on Monday said it completed a series of divestments of several non-core energy solutions businesses.
The Windsor, England-based energy provider and owner of British Gas said it sold its energy solutions businesses in Italy and the Netherlands to Joulz, a portfolio company of 3i Infrastructure PLC, and disposing of its Hungarian unit through a management buyout.
Further, Centrica finalised the sale of Panoramic Power, taking total proceeds to more than £80 million.
Centrica said the transactions align with its strategy to focus resources on core growth and innovation priorities, while recycling capital from non-core assets into new investment opportunities.
Chief Executive Officer Chris O’Shea said: ‘These transactions reflect a strategic decision to focus our resources on Centrica Business’s core growth and innovation priorities which will better position the business to pursue new opportunities and accelerate growth in key markets.’
Centrica shares rose 0.9% to 193.25 pence each on Monday morning in London.
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